Shareholders are advised that several of Famous Brands’ and franchisee properties have suffered various degrees of damage due to the civil unrest in KwaZulu-Natal and Gauteng over the past few days.
To date, the total number of stores that have been damaged and rendered nonoperational is 99, the majority being in KwaZulu-Natal. Our Logistics facility in Westmead, KZN has been damaged and is currently non-operational but repairable once we have access to the area.
Furthermore, a large number of stores are not trading currently due to safety concerns and trading activity remains subdued.
The Company continues to work closely with our franchise partners, local law enforcement, security providers, property managers and other relevant parties to maintain the safety of customers, employees and franchisees.
The Company will continue to update the market as matters develop further.
Midrand
14 July 2021
Sponsor:
The Standard Bank of South Africa Limited